Eight Stocks Buoy Nigeria’s Alternative Bourse By 0.08%

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange appreciated by 0.08 per cent on a week-on-week basis in the 35th trading week of the year, buoyed by the improvements in the prices of eight stocks on the platform.

It was observed that low-capped equities joined the bellwethers to lift the alternative bourse in the five-day trading week, resulting in the NASD Unlisted Securities Index (NSI) moving up by 5.85 points to 791.22 from 785.37 points, as the market capitalisation expanded by N10 billion to N1.110 trillion from N1.101 trillion.

In the week under review, there was a surge in the total volume of trades by 2,550.8 per cent to 513.8 million units from 19.4 million units, and the value of transactions grew by 23.4 per cent to N615.8 million from N499.1 million, while the number of deals 33.96 per cent to 70 deals from 106 deals.

Central Securities Clearing System (CSCS) Plc finished at the busiest security by value in the week, trading N267.1 million units, followed by Aradel Holdings Plc with N211.3 million, FrieslandCampina Wamco Nigeria  Plc exchanged N18.4 million, VFD Group Plc transacted N0.98 million, and Industrial and General Insurance (IGI) Plc traded N0.46 million.

By volume, CSCS Plc also topped with 14.6 million units, IGI Plc followed with 3.7 million units, Aradel Holdings Plc posted 0.5 million units, FrieslandCampina Wamco Nigeria  Plc recorded 0.25 million units, and UBN Property Plc closed with 0.12 million units.

On the price movement chart, eight equities were on the gainers chart, with Food Concepts Plc rising by 19.8 per cent to N1.15 per share from 96 Kobo per share, IGI Plc rose by 18.2 per cent to 13 Kobo per unit from 11 Kobo per unit, CSCS Plc grew by 5.9 per cent to N18.00 per share from N17.00 per share, and Geo-Fluids Plc appreciated by 3.6 per cent to close at N2.90 per unit versus the previous week’s N2.80 per unit.

Further, Acorn Petroleum Plc leapt by 3.9 per cent to 27 Kobo per share from 26 Kobo per share, Aradel Holdings Plc improved by 2.9 per cent to N445.60 per unit from N432.88 per unit, FrieslandCampina Wamco Plc rose by 0.6 per cent to end at N73.96 per share from N73.51 per share, and Afriland Properties Plc which added 0.3 per cent to trade at N3.36 per unit versus N3.35 per unit.